Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events For purposes of the condensed consolidated financial statements as of June 30, 2026, the Company evaluated subsequent events for recognition and measurement purposes as of the filing date. The Company has concluded that no events or transactions have occurred that require disclosure except as follows: Skillz v. Papaya Litigation On July 27, 2026, a court issued an opinion and order awarding $719 million in disgorgement of unjust profits, plus approximately $10.1 million in fees and costs to the Company in respect of a false advertising lawsuit. A final judgment in the matter was entered on July 31, 2026. The Company intends to vigorously pursue full collection of the judgment; however, no assurance can be given as to the timing or amount of any ultimate recovery, including in light of any appeal or further proceedings. Refer to Note 8, “Commitments and Contingencies” for further discussion. Partial Debt Redemption On August 4, 2026, the Company delivered a notice of partial redemption of $80.0 million in aggregate principal amount of the Company’s outstanding 2021 Senior Secured Notes at a price of 100.00% of the principal amount of the 2021 Senior Secured Notes, plus accrued and unpaid interest, with such redemption occurring on August 14, 2026. As of August 4, 2026, there was $129.7 million aggregate principal amount of the 2021 Senior Secured Notes outstanding. UMB Bank, N.A. is serving as the trustee for the 2021 Senior Secured Notes and as the paying agent for the Redemption. On August 14, 2026, the Company redeemed $80.0 million in aggregate principal amount of the Company’s outstanding 2021 Senior Secured Notes at a redemption price of 100.00% of the principal amount of the Senior Secured Notes, plus accrued and unpaid interest. As of August 14, 2026, after consummation of that redemption, there was $49.7 million aggregate principal amount of the Senior Secured Notes outstanding.
|